Tuesday, May 28, 2019
CALECIM® Cosmeceuticals (CALECIM®), a wholly owned subsidiary of biotechnology company CellResearch Corporation (CRC), has formed a major partnership with A. Menarini Asia-Pacific Holdings Pte. Ltd. (Menarini Asia-Pacific). The multi-year partnership covers sales and marketing of CALECIM® products to six of the largest skincare markets in the region: mainland China, Hong Kong, Thailand, Malaysia, Philippines and Indonesia; expanding CALECIM®'s global reach to markets of over 1.7 billion people.
According to GBI Research, global revenues for the dermatology market are forecast to grow to US$36.6 billion by 2023. Driven by technological innovation and rising disposable income in emerging markets, the Asia-Pacific region has surpassed North American and Europe to become the fastest growing market in the world for dermatology devices and solutions. The region's consumer base now has greater awareness of dermatology, resulting in demand for the newest solutions that meet their skincare needs.
To meet this demand, CALECIM® and Menarini Asia-Pacific have partnered to bring the brand's full range of products, including solutions developed from start to end in Singapore, into the hands of consumers across the region. Leveraging Menarini Asia-Pacific's network across the region, the partnership has extended CALECIM® footprint to cover China and Philippines, made possible by Menarini's end-to-end commercialisation capabilities.
Gavin Tan, Group CEO of CRC, commented on the agreement: "This partnership constitutes an important step forward in the evolution of CALECIM®. I am delighted that market-leading pharmaceutical company Menarini Asia-Pacific has agreed to put the weight of its highly capable workforce and sales and marketing expertise behind our products in the region. Menarini Asia-Pacific is the perfect partner to help us further establish our brand in these rapidly developing aesthetic markets."
Albert Lim, CEO of Menarini Asia-Pacific, added, "Menarini Asia-Pacific is always identifying and developing innovative healthcare related solutions to address the evolving unmet needs of users of today and tomorrow. This partnership is a strategic move to complement our ever growing portfolio of world class aesthetic products. CALECIM® stands at the forefront of growth factor technology. With a solid customer base backed with physicians' insights and speed to market expertise, we look forward to delivering CALECIM®'s pioneering technology to the fastest growing cosmetic markets in the world."